11-24-08 Council Meeting Agenda & Packet

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I_C., 6-1.1-12.1-1, et seq., and South Bend Municipal Code Sec. 2-76 et seq., for this petition states the following: Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business: Please see attached Exhibit D. Land Size approximately 1.94 acres; Building Size approximately 31,819 square feet, yet to be determined. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): Tenants in the building are likely to be primarily warehouse users, but with some need for front-space office or showroom (similar to existing Gateway tenants). All suites will have grade-level overhead door access, with at least 4 slated for dock access, as well. 3. Estimate the dollar value of the project (excluding land): 1 480 180 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: X13 000 (land only 2007 German Township assessment).. 5. (a) The real property forwhich tax abatement consideration is petitioned (Property) is owned or to be owned by the following individuals or corporations (if the business .organization is publicly held, indicate also the name of the corporate parent, if any, and the name under which the corporation has filed with the Securities and Exchange Commission): NAME ADDRESS INTEREST (°lo) Gateway Plaza Real Estate LLC 202 S Michigan Ste. 200 100% c/o CB Richard Ellis Bradle South Bend IN 46601 (Rev 8/11/08)